Piper Sandler Issues Positive Forecast for Check Point Software Technologies (NASDAQ:CHKP) Stock Price

Check Point Software Technologies (NASDAQ:CHKP) had its target price boosted by Piper Sandler from $185.00 to $195.00 in a research note published on Monday,Benzinga reports. Piper Sandler currently has a neutral rating on the technology company’s stock.

Several other research firms have also commented on CHKP. BMO Capital Markets upped their target price on Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Stifel Nicolaus increased their price objective on shares of Check Point Software Technologies from $182.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $187.00 target price on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Seventeen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Check Point Software Technologies has a consensus rating of “Hold” and an average target price of $199.24.

Check Point Software Technologies Price Performance

Check Point Software Technologies stock opened at $183.19 on Monday. The stock has a market capitalization of $20.15 billion, a P/E ratio of 25.03, a P/E/G ratio of 3.21 and a beta of 0.63. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $210.70. The firm’s 50-day moving average is $182.44 and its two-hundred day moving average is $184.61.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.25. The firm had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. Check Point Software Technologies’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.80 earnings per share. As a group, analysts forecast that Check Point Software Technologies will post 7.87 EPS for the current year.

Institutional Trading of Check Point Software Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its holdings in Check Point Software Technologies by 2.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock worth $912,070,000 after acquiring an additional 114,938 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Check Point Software Technologies by 10.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock worth $354,153,000 after purchasing an additional 177,104 shares in the last quarter. FMR LLC increased its holdings in Check Point Software Technologies by 28.7% in the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after buying an additional 252,581 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Check Point Software Technologies by 73.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock worth $211,105,000 after buying an additional 464,821 shares during the last quarter. Finally, Westwood Global Investments LLC grew its position in shares of Check Point Software Technologies by 4.2% in the 2nd quarter. Westwood Global Investments LLC now owns 841,953 shares of the technology company’s stock worth $138,922,000 after acquiring an additional 34,091 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

About Check Point Software Technologies

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.